MIRA INFORM REPORT

 

 

Report No. :

345619

Report Date :

17.10.2015

 

IDENTIFICATION DETAILS

 

Name :

CVB ECOLOGISTICS B.V.

 

 

Registered Office :

Wilhelminapark 37 5041EC Tilburg

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

01.11.1978

 

 

Com. Reg. No.:

18026887

 

 

Legal Form :

Private company with regular structure

 

 

Line of Business :

Wholesale of other used materials and waste materials

 

 

No. of Employees :

18 (2015)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Netherlands

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

NETHERLANDS - ECONOMIC OVERVIEW

 

The Netherlands, the sixth-largest economy in the European Union, plays an important role as a European transportation hub, with a persistently high trade surplus, stable industrial relations, and moderate unemployment. Industry focuses on food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for food-processing and underpins the country’s status as the world’s second largest agricultural exporter. The Netherlands is part of the Eurozone, and as such, its monetary policy is controlled by the European Central Bank. The Dutch financial sector is highly concentrated, with four commercial banks possessing over 90% of banking assets. The sector suffered as a result of the global financial crisis and required billions of dollars of government support, but the European Banking Authority completed stringent reviews in 2014 and deemed Dutch banks to be well-capitalized. To address the 2009 and 2010 economic downturns, the government sought to stimulate the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credits. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE has since implemented significant austerity measures to improve public finances and has instituted broad structural reforms in in key policy areas, including the labor market, the housing sector, the energy market, and the pension system. As a result, the government budget deficit at the end of 2014 dropped to 1.8% of GDP. Following a protracted recession during which unemployment doubled to 7.4% and household consumption contracted for nearly three consecutive years, the year 2014 saw fragile GDP growth of 0.8 percent and a rise in most economic indicators. Drivers of growth included increased exports and business investments, as well as newly invigorated household consumption.

 

Source : CIA

 

Summary

 

Company name

CVB Ecologistics B.V.

Operative address

Wilhelminapark 37

 

5041EC TILBURG

 

Netherlands

Legal form

Private company with regular structure

Registration number

KvK-nummer: 18026887

VAT-number

006889050

 

 

Year

2013

Mutation

2012

Mutation

2011

Fixed assets

1.411.356

-23,01

1.833.135

-10,50

2.048.249

Total receivables

9.719.742

-31,18

14.124.208

14,47

12.338.782

Total equity

4.663.760

-0,13

4.669.663

-0,28

4.682.947

Short term liabilities

6.310.737

-43,34

11.138.267

13,92

9.777.663

Net result

-5.903

55,56

-13.284

-101,25

1.060.207

Working capital

3.415.534

12,98

3.023.208

9,40

2.763.445

Quick ratio

1,54

21,26

1,27

-0,78

1,28

 

 

 

 

Contact information

 

Company name                                    CVB Ecologistics B.V.

Trade names                                        CVB Ecologistics B.V.

Operative address                                Wilhelminapark 37

5041EC TILBURG

Netherlands

Correspondence address                     Wilhelminapark 37

5041EC TILBURG

Netherlands

Telephone number                               013-4647999

Fax number                                          013 4647991

Email address                                      info@cvbecologistics.com

Website                                                www.cvbecologistics.com

 

 

Registration

 

Registration number                KvK-nummer: 18026887

Registered in                            Kamer van Koophandel Brabant

Branch number                        000016832248

VAT-number                             006889050

Status                                      Active

First registration company register 1984-04-27

Memorandum                           1984-04-27

Establishment date                  1978-11-01

Legal form                               Private company with regular structure

Legal person since                   1984-04-27

Last proposed admendment     2002-12-12

Issued placed capital               EUR 15.890

Paid up share capital               EUR 15.890

 

 

Activities

 

SBI                                           Wholesale of other used materials and waste materials (46779)

Exporter                                   Yes

Importer                                   Yes

Goal                                         De handel in oud papier,plastics en andere recycleproducten

 

 

Relations

 

Shareholders                           Lindans B.V.

Wilhelminapark 37

5041EC TILBURG

Netherlands

Registration number: 180351600000

Percentage: 100%

 

Companies on same address   Belrosa B.V.

Registration number: 180130300000

Lindans B.V.

Registration number: 180351600000

Livabe B.V.

Registration number: 180809210000

Companies on same address

Stichting Administratiekantoor Lindans

Registration number: 614736260000

Management

 

Active management                              Lindans B.V.

Wilhelminapark 37

5041EC TILBURG

Netherlands

Registration number: 180351600000

Competence: Fully authorized

Function: Manager

Starting date: 2009-01-01

R.A. Getkate (Richard Alain)

Netherlands

Competence: Fully authorized

Function: Manager

Starting date: 2009-01-01

Date of birth: 1972-08-06, Utrecht, NL

 

 

Employees

 

Year

2015

2013

2012

2011

2010

 

 

 

 

 

 

Total

18

26

18

18

18

 

 

 

 

Payments

 

Description                                          Payments are made regularly no complaints are known

 

 

Key figures

 

Year

2013

2012

2011

2010

2009

Quick ratio

1,54

1,27

1,28

1,30

0,91

Current ratio

1,54

1,27

1,28

1,30

0,91

 

Working capital/ balance total

0,31

0,19

0,19

0,21

-0,07

Equity / balance total

0,42

0,29

0,32

0,30

0,21

Equity / Fixed assets

3,30

2,55

2,29

3,28

0,74

Equity / liabilities

0,72

0,41

0,47

0,43

0,26

Balance total / liabilities

1.72

1.41

1.47

1.43

1.26

Working capital 3.415.534            3.023.208          2.763.445            2.554.426 -925.623

3.415.534

3.023.208

2.763.445

2.554.426

-925.623

Mutation equity

-0,13

-0,28

29,27

37,69

12,09

Mutation short term liabilities

-43,34

13,92

15,51

-14,79

23,22

 

 

 

 

 

 

Return on total assets (ROA)

-0,02

0,02

9,76

10,97

2,98

Return on equity (ROE)

-0,05

0,08

30,41

36,71

14,23

Gross margin

2.126.782

2.660.014

3.994.576

3.493.505

2.065.341

Operating result

-44.428

57.200

1.488.869

1.355.906

-88.395

Net result after taxes

5.903

-13.284       

1.060.207

991.648

283.835

Cashflow

355.504

326.454       

1.319.404       

1.221.966

409.816

EBIT

-44.428

57.200

1.488.869

1.355.906

-88.395

EBITDA

316.979

396.938

1.748.066

1.586.224

37.586

 

Summary

 

The 2013 financial result structure is a postive working captial of 3.415.534 euro, which is in agreement with 31 % of the total assets of the company.

The working capital has increased with 12.98 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased.

The improvement between 2012 and 2013 has mainly been caused by an increase of the current assets.

The current ratio of the company in 2013 was 1.54. A company with a current ratio between 1.5 and 3.0 generally indicates good short-term financial strength.

The quick ratio in 2013 of the company was 1.54. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.

The 2012 financial result structure is a postive working captial of 3.023.208 euro, which is in agreement with 19 % of the total assets of the company.

The working capital has increased with 9.4 % compared to previous year. The ratio with respect to the total assets of the company remains unchanged.

The improvement between 2011 and 2012 has mainly been caused by a current liabilities reduction.

The current ratio of the company in 2012 was 1.27. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations.

The quick ratio in 2012 of the company was 1.27. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.

 

 

 

 

 

 

Financial statement

 

Last annual account                             2013

Remark annual account                        There is no financial data published

Type of annual account                        Corporate

Annual account                                    CVB Ecologistics B.V.

Wilhelminapark 37

5041EC TILBURG

Netherlands

Registration number: 180268870000

 

 

Balance

 

Year

2013

2012

2011

2010

2009

End date

2013-12-31

2012-12-31

2011-12-31

2010-12-31

2009-12-31

Tangible fixed assets

1.257.975

1.569.194

1.671.393

1.086.776

1.022.445

Financial fixed assets

153.381

263.941

376.856

16.292

2.540.725

Fixed assets

1.411.356

1.833.135

2.048.249

1.103.068

3.563.170

 

Total stock

6.529

37.267

 

Total receivables

9.719.742

14.124.208

12.338.782

11.019.302

9.008.524

Liquid funds

 

 

202.326

 

 

Current assets

9.726.271

14.161.475

12.541.108

11.019.302

9.008.524

Total assets

11.137.627

15.994.610

14.589.357

12.122.370

12.571.694

 

 

Year

2013

2012

2011

2010

2009

End date

2013-12-31

2012-12-31

2011-12-31

2010-12-31

2009-12-31

 

Issued capital

15.890

15.890

15.890

15.890

15.890

Legal and statutory reserve

 

 

2.110

2.110

2.110

Other reserves

4.647.870

4.653.773

4.664.947

3.604.740

2.613.092

Total reserves

4.647.870

4.653.773

4.667.057

3.606.850

2.615.202

Total equity

4.663.760

4.669.663

4.682.947

3.622.740

2.631.092

 

Provisions

163.130

186.680

128.747

34.754

6.455

Short term liabilities

6.310.737

11.138.267

9.777.663

8.464.876

9.934.147

Total short and long term liabilities

6.473.867

11.324.947

9.906.410

8.499.630

9.940.602

Total liabilities

11.137.627

15.994.610

14.589.357

12.122.370

12.571.694

 

Summary

 

The total assets of the company decreased with -30.37 % between 2012 and 2013.

This total assets decrease has been reflected in a reduction of non current assets of -23.01%.

Assets reduction is being explained by an indebtedness decrease -42.84 % while the Net Worth remains unchanged.

In 2013 the assets of the company were 12.67 % composed of fixed assets and 87.33 % by current assets. The assets are being financed by an equity of 41.87 %, and total debt of58.13 %.

The total assets of the company increased with 9.63 % between 2011 and 2012.

Despite the assets growth, the non current assets decreased with -10.5 %.

The asset growth is explained by a reduction of 14.32 % of the company's indebtness, this while, the Net Worth remains unchanged.

In 2012 the assets of the company were 11.46 % composed of fixed assets and 88.54 % by current assets. The assets are being financed by an equity of 29.2 %, and total debt of 70.8%.

 

 

 

 

 

Profit and loss

 

Year

2013

2012

2011

2010

2009

Gross margin

2.126.782

2.660.014

3.994.576

3.493.505

2.065.341

 

Wages and salaries

1.049.884

1.190.173

1.220.219

1.042.634

882.805

Amorization and depreciation

361.407

339.738

259.197

230.318

125.981

other operating costs

759.919

1.072.903

1.026.291

864.647

1.144.950

Operating expenses

2.171.210

2.602.814

2.505.707

2.137.599

2.153.736

Operating result

-44.428

57.200

1.488.869

1.355.906

-88.395

 

Financial income

42.174

41.103

2.637

59.747

635.600

Financial expenses

19

94.367

67.396

85.787

172.730

Financial result

42.155

-53.264

-64.759

-26.040

462.870

Result on ordinary operations before taxes

-2.273

3.936

1.424.110

1.329.866

374.475

 

Taxation on the result of ordinary activities

-2.851

17.220

323.396

321.310

90.640

Result of ordinary activities after taxes

578

-13.284

1.100.714

1.008.556

283.835

 

Extraordinary income

 

 

7.003

 

 

Extraordinary expense

6.481

 

47.510

16.908

 

Extraordinary result after taxation

-6.481

 

-40.507

-16.908

 

Net result

-5.903

-13.284

1.060.207

991.648

283.835

 

Summary

 

The gross profit of the company decreased by -20.05 % between 2012 and 2013.

The operating result of the company declined with -177.67 % between 2012 and 2013. This evolution implies an decrease of the company's economic profitability.

The result of these changes is a reduction of the company's Economic Profitability of -200 % of the analysed period, being equal to 2012 % in the year 2013.

The Net Result of the company decreased by 55.56 % between 2012 and 2013.

The company's Financial Profitability has been negatively affected by the financial activities in comparison to the EBITs behaviour. The result of these variations is a profitability reduction of -162.5 % of the analysed period, being -0.05 % in the year 2013.

The company's financial profitability has been positively affected by its financial structure.

The gross profit of the company decreased by -33.41 % between 2011 and 2012.

The operating result of the company declined with -96.16 % between 2011 and 2012. This evolution implies an decrease of the company's economic profitability.

The result of these changes is a reduction of the company's Economic Profitability of -99.8 %

of the analysed period, being equal to 2011 % in the year 2012.

The Net Result of the company increased by -101.25 % between 2011 and 2012.

The company's Financial Profitability has been positively affected by the financial activities in comparison to the EBITs behaviour. The result of these variations is a profitability increase of -99.74 % of the analysed period, being 0.08 % in the year 2012.

The company's financial profitability has been positively affected by its financial structure.

 

 

 

 

Analysis

 

Branch (SBI)                             Wholesale trade (no motor vehicles and motorcycles) (46)

Region                                     Midden-Brabant

In the Netherlands 109662 of the companies are registered with the SBI code 46

In the region Midden-Brabant 5737 of the companies are registered with the SBI code 46

In the Netherlands 2387 of the bankrupcties are published within this sector

In the region Midden-Brabant 108 of the bankruptcies are published within this sector

The risk of this specific sector in the Netherlands is normal

The risk of this specific sector in the region Midden-Brabant is normal

 

 

Publications

 

Filings                                                 28-07-2014: De jaarrekening over 2013 is gepubliceerd.

16-08-2013: De jaarrekening over 2012 is gepubliceerd.

25-07-2012: De jaarrekening over 2011 is gepubliceerd.

15-07-2011: De jaarrekening over 2010 is gepubliceerd.

26-08-2010: De jaarrekening over 2009 is gepubliceerd.

 

 

Company structure

 

Relations                                  6

Lindans B.V.

Wilhelminapark 37

5041EC TILBURG

Netherlands

Registration number: 180351600000

• CVB Ecologistics B.V.

Wilhelminapark 37

5041EC TILBURG

Netherlands

Registration number: 180268870000

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.97

UK Pound

1

Rs.100.55

Euro

1

Rs.73.99

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

TRU

 

               

RATING EXPLANATIONS

 

RATING

STATUS

PROPOSED CREDIT LINE

 

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

 

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

 

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

 

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

 

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

 

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

 

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

Credit not recommended

 

--

NB

New Business

--

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.